It’s been a long time coming, but Barrio Logan is finally getting a town center.

Escrow closed last week on the 6.8-acre Mercado del Barrio project at the foot of the San Diego-Coronado Bridge with the hope that the $80 million investment in a retail and housing project will breathe new life into the historic neighborhood.

“This project is a true win for the Barrio Logan community and all of San Diego,” said Mayor Jerry Sanders. “It’s going to enhance a culturally rich neighborhood, spur small-business creation and create jobs for San Diegans.”

It’s been a long time coming, but Barrio Logan is finally getting a town center.

Escrow closed last week on the 6.8-acre Mercado del Barrio project at the foot of the San Diego-Coronado Bridge with the hope that the $80 million investment in a retail and housing project will breathe new life into the historic neighborhood.

“This project is a true win for the Barrio Logan community and all of San Diego,” said Mayor Jerry Sanders. “It’s going to enhance a culturally rich neighborhood, spur small-business creation and create jobs for San Diegans.”

Rachael Ortiz, chairwoman of the Barrio Logan Redevelopment Project Area Committee, remembers the property as previously filled with rat-infested junkyards and low-quality housing.

“We want redevelopment to be used to take out blight and replace it with things we need,” Ortiz said.

Although the debate over redevelopment statewide has often focused on megaprojects like stadiums, convention centers and subsidized hotels and commercial developments, lower-profile projects like the Mercado illustrate the other end of the scale — infill housing and retail that builders often shy away from because the profit margin seems low and the risk too high.

“Fundamentally, it’s a great site,” said Kevin McCook, project manager for Shea Properties, developer of the 83,804—square-foot commercial portion. Chelsea Investment is overseeing the 92-unit apartments. “The workforce is there, the housing is there. You look at it as a developer and say this site makes a lot of sense.”